Eric Tipan / Manufacturer press | September 20, 2017 10:18
Ford & Mahindra agree on three-year cooperation targeting emerging markets
The Blue Oval brand teams up with one of India’s largest vehicle manufacturers to intensify research and development of next-generation automobiles while also sharing marketing and sales expertise.
Ford Motor Company and Mahindra & Mahindra agree on an initial three-year cooperation to advance work on mobility programs, connected-vehicle projects, electrification, product development, plus sourcing and commercial efficiencies.
Part of this alliance includes Ford exploiting Mahindra’s distribution capability in India whereas Mahindra will utilize Ford’s global reach in order to boot sales in emerging markets.
Continuation of the three-year agreement will depend on the outcome of the three-year partnership between the two companies.
“Ford is committed to India and this alliance can help us deliver the best vehicles and services to customers while profitably growing in the world’s fifth largest vehicle market. Our two companies have a long history of cooperation and mutual respect. The memorandum of understanding we have signed today with Mahindra will allow us to work together to take advantage of the changes coming in the auto industry. The enormous growth potential in the utility market and the growing importance of mobility and affordable battery electric vehicles are all aligned with our strategic priorities,” said Jim Farley, Ford executive vice president and president of Global Markets.
“The changes facing the automotive industry globally are triggered by the accelerated rise of new technologies, sustainability policies and new models of urban shared mobility. Given these changes we see the need to anticipate new market trends, explore alternatives and look for ways to collaborate even as we compete and build powerful synergies that will allow rapid exploitation of the exciting new opportunities. Today’s announcement builds on the foundation laid through our past partnership with Ford and will open opportunities for both of us,” said Dr. Pawan Goenka, managing director, Mahindra and Mahindra Ltd.